More music is consumed on YouTube than any other audio streaming platform
As MBW points out, the report showed that 46% of all music streaming listening time last year came through YouTube.
The figure comes from research from Ipsos that measured internet use by persons aged 16-64 across the world’s leading music markets (excluding China).
The figures also showed that audio streaming platforms including Spotify and Apple Music made up a total of 45% of all listening, 1% behind YouTube’s figure.
The remaining 9% of listening hours was attributed to other video platforms Vimeo and Vevo.
MBW suggests that the figures are likely to be challenged in the near future, as sources previously indicated that the average YouTube user spends less than one hour per month listening to music on the service.
In addition, YouTube has challenged another set of figures in the report – those which suggest that YouTube paid out a measley US$856 million to artists and labels last year.
A YouTube spokesperson contested that the platform has paid out “over a billion dollars to the music industry” in the last 12 months.
The IFPI Report also showed that Australia’s music industry posted a 13.4% growth to $413 million, with streaming growing a huge 62.4% locally (compared with a 41% rise worldwide).